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Enwell Energy PLC - London-based oil and gas company - Says that its Vasyschevskoye field near Ukraine's Kharkiv remains suspended as the war in the country continues. The ongoing Russian military action in Ukraine ‘has made the situation in Ukraine extremely challenging,’ Enwell explains.
Firm still produces at the Mekhediviska-Golotvshinska and Svyrydivske gas and condensate fields, both in Ukraine.
In its second quarter that ended June 30, gas production of these fields falls to 10.7 million cubic feet per day from 21.2 million cubic feet, compared to a year ago. Condensate shrinks to 421 barrels of oil per day from 752. Liquefied petroleum gas drops to 241 from 326 barrels of oil per day. Aggregate barrels of oil equivalent per day dips to 2,478 from 4,723.
‘The continued high hydrocarbons sales prices have helped to offset the impact on revenues during the quarter due to the lower production volumes,’ Enwell says.
Current stock price: 22.90 pence, down 0.4% on Friday
12-month change: down 6.5%
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